SkipCaptcha, Automoderated users, edit
2,275
edits
Changes
Jump to navigation
Jump to search
Line 1:
Line 1: − +
no edit summary
{{uncited}}
{{uncited}}
The '''Obama sequester''' was a proposal by [[President Barack Hussein Obama]] to Senate [[Democrat]] Majority Leader [[Harry Reid]] relayed by then [[White House]] budget director [[Jack Lew]] to cut [[entitlement]] and defence spending effective January 1, 2013. The idea was to break the deadlock over a [[federal debt ceiling]] debate in the summer of 2011 and "kick the can down the road" past the [[2012 Presidential election]] over ways to pay for Obama's [[stimulus]] spending and "[[healthcare reform]]" during his first term.
The '''Obama sequester''' was a proposal by [[President Barack Hussein Obama]] to Senate [[Democrat]] Majority Leader [[Harry Reid]] relayed by then [[White House]] budget director [[Jack Lew]] to cut [[entitlement]] and defence spending<ref>[http://articles.washingtonpost.com/2013-02-22/opinions/37238840_1_jack-lew-treasury-secretary-rob-nabors Obama’s sequester deal-changer,] By Bob Woodward, ''Washington Post'', February 22, 2013.</ref> effective January 1, 2013. The idea was to break the deadlock over a [[federal debt ceiling]] debate in the summer of 2011 and "kick the can down the road" past the [[2012 Presidential election]] over ways to pay for Obama's [[stimulus]] spending and "[[healthcare reform]]" during his first term.
Critics warned Obama's [[economic planning|economic plan]] would create massive [[unemployment]] and a [[recession]]. Obama repeatedly claimed tax increases on the rich would pay for his plan, and [[Republican]]s compromised by voting for tax increases for the first time in two decades. As part of the deal, Obama's sequester cuts were delayed 60 days to avoid the inevitable [[fiscal cliff]] of his plan.
Critics warned Obama's [[economic planning|economic plan]] would create massive [[unemployment]] and a [[recession]]. Obama repeatedly claimed tax increases on the rich would pay for his plan, and [[Republican]]s compromised by voting for tax increases for the first time in two decades. As part of the deal, Obama's sequester cuts were delayed 60 days to avoid the inevitable [[fiscal cliff]] of his plan.